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Staples, Inc. Message Board

  • cra46 cra46 Sep 27, 2011 3:45 PM Flag

    law suit

    does andy one know when law suit for asst mgr will be paid out

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    • The Class Action lawyers asked the Judge for an additional $2 million in fees and expenses in October 2010 and the settlement has been held up since then.

      They are already making about $14 million off this case, but what can you expect from lawyers?

      One of the lead lawyers in this case once sued the publishers of Grand Theft Auto 3 and made $2 million in fees while the members of the class action he represented received a total of $30k.

      • 1 Reply to val_tyr
      • Update: As of May 9, 2011, the status is unchanged. The Court has ruled, in October 2010, that the terms of the Settlement were fair, adequate and reasonable but had not ruled on remaining issues as to the fee and expense request of Settlement Class Counsel. Until the remaining issues are decided by the Court, there is no Final Approval order as defined in the Settlement Agreement. Assuming that that all payments from the settlement fund are authorized as provided in the Settlement Agreement and that there are no appeals on any issues, remaining payments to Settlement Class Members would be made approximately two months after the District Court Judge issues her order. How long it will take the District Court Judge to rule on the remaining issues cannot be predicted.

    • Are you talking about the 2009 lawsuit? if so, I am sure that it has already been reflected on the financial statements so it will have no effect on Staples earnings.
      Staples should go up from here as can be seen today currently the DOW & Nasdaq are both down and SPLS is up nearly 2%. GLTA

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